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Final 2013 Cincinnati Market Numbers…

January 13, 2014

Cincinnati Market Stats

Advantage no one…according to the National Association of REALTORS®, a balanced market, where neither seller nor buyer have an advantage, is somewhere between 5 and 6 months.  As you can see on the chart, (click on the image) the housing supply for December 2013 registered at 5.6 months which is 1.2 months less than last December and .3 months less than last month.  Not bad for a snowy, wintery December!

Dec_2013_mkt_statsWhen I think of a balanced market, I don’t think of multiple offers nor declining DOM (days on market), but that is exactly what we experienced as well as a general increase in average sales price and number of sales.  That happens to those listings that are in top showing condition and priced well for a quick sale…prime location doesn’t hurt either.  All in all, 2013 turned out to be a turn-around year for real estate which made lots of people happier than they had been before.

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